Ribbon Communications (NASDAQ:RBBN) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.
Several other research analysts have also weighed in on RBBN. ValuEngine lowered shares of Ribbon Communications from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. TheStreet lowered shares of Ribbon Communications from a “c-” rating to a “d+” rating in a research note on Friday, March 16th. Zacks Investment Research lowered shares of Ribbon Communications from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, William Blair reiterated a “buy” rating on shares of Ribbon Communications in a research note on Monday, March 12th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Ribbon Communications presently has an average rating of “Hold” and a consensus price target of $7.25.
RBBN stock opened at $5.27 on Friday. Ribbon Communications has a 52-week low of $4.97 and a 52-week high of $9.05. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The company has a market cap of $540.22, a PE ratio of 75.29 and a beta of 1.77.
In other Ribbon Communications news, CEO Franklin W. Iv Hobbs bought 75,000 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was bought at an average cost of $5.66 per share, with a total value of $424,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael R. Swade sold 13,979 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $5.14, for a total transaction of $71,852.06. The disclosure for this sale can be found here. 7.68% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Ellington Management Group LLC bought a new stake in Ribbon Communications in the fourth quarter worth approximately $109,000. Teacher Retirement System of Texas bought a new stake in shares of Ribbon Communications during the 4th quarter worth $110,000. Bank of Montreal Can bought a new stake in shares of Ribbon Communications during the 4th quarter worth $152,000. Two Sigma Securities LLC bought a new stake in shares of Ribbon Communications during the 4th quarter worth $160,000. Finally, Nwam LLC bought a new stake in shares of Ribbon Communications during the 4th quarter worth $164,000. 84.39% of the stock is owned by institutional investors.
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About Ribbon Communications
Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.
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